Newcastle manager Graeme Souness says the Magpies will not let Jermaine Jenas leave for anything less than £15m.
Souness is keen to keep Jenas, 22, at St James' Park, despite admitting the midfielder is unsettled on Tyneside.
"We want to keep him. He's a valuable member of the squad and we're looking to build things here," Souness said.
"If we were offered £15m for JJ I think that would get the chairman thinking, but that's not the case so that's not an issue."
The England international, who has 12 caps, has been linked with Manchester United, Arsenal and Middlesbrough but Souness revealed there had been only one offer and that came from Tottenham earlier in the summer.
"We did (receive an offer) a month ago, I believe from Tottenham Hotspur, but as far as I know that's not been followed up," he added.
Souness has also denied he had reportedly rowed with Jenas over the position he had played in last Wednesday's Intertoto defeat to Deportivo La Coruna as well as with chairman Freddy Shepherd over the club's transfer policy.
Souness said: "I have not had a bust-up with Jenas and do not want to sell him.
"Why would we want to sell him? I have no problem with him.
"He has been away on England duty and what happens is the players have a few beers as a group and chat about how much they are earning.
"Not many of them tell the truth and he has come back a wee bit unsettled but it is total nonsense about having an argument and bust-up, and the same goes for the chairman and I."
Meanwhile Spurs boss Martin Jol distanced the London club from a move for Jenas.
"We're always interested in very good young England players but we are looking fine," the Dutchman told BBC Radio Five Live.
Spurs had been reported to be willing to exchange Robbie Keane for Jenas, but Souness dismissed the claims, insisting: "Robbie Keane is not the kind of striker I am looking for at the moment."
Jenas figured in Newcastle's 5-0 pre-season win over Yeading despite the uncertainty over his future after Souness had revealed the player felt like he was "living in a goldfish bowl" on Tyneside.
Shepherd also dismissed reports Jenas has requested a transfer and that the player had had a falling out with the manager.
He said: "We have not had a transfer request from Jermaine Jenas and we have not had a bid for him from any club.
"And stories of him having a bust-up with anyone at the club are simply not true."
Arsenal boss Arsene Wenger has made no secret of his admiration for Jenas, and is still seeking a replacement for captain Patrick Vieira after his departure to Junventus.
And Manchester United have also been linked, as they look for a long-term replacement for Roy Keane, whileand Middlesbrough are reported to be keen.